PFS Financing Corp., Series 2016-A will issue two tranches of floating-rate notes: a $282 million senior tranche that benefits from credit enhancement of 10% is provisionally rated AAA by Moodys; an $18.2 million subordinate tranche is unrated.
Two equipment-lease securitizations were launched Thursday: a $850 million deal from CNH Industrial and a $454 million deal from GreatAmerica Financial Services Corp.
Ford Credit Floorplan Master Owner Trust A (Series 2016-1) consists of three classes of notes with preliminary ratings from Standard & Poors and a final maturity of February 2019.
Enterprise Fleet Financing, Series 2016-1 will issue a $193 million tranche of money market notes and two tranches of notes with preliminary AAA ratings from Fitch Ratings with a final maturity of September 2021.
The deal, Hero Funding Trust 2016-1, will issue $217.5 million of class A notes provisionally rated 'AA' by KBRA that mature in September 2036. They are backed by 28 limited obligation improvement bonds from 27 California counties.
A two-year extension to the deadline for banks to conform CLO holdings to the Volcker Rule doesn't apply to all, the Federal Reserve says.
Despite regulatory hurdles, participants see nothing in the way of issuance reaching $60 billion to $70 billion this year.
Finke says the industry needs to address the lack of understanding about its performance and role in the economy.
Two academics argue that aggreggating standardized assets is key to solar securitization, which can meaningfully reduce funding costs for developers.
Despite pressure from Capitol Hill, regulators are disinclined to allow banks to hold collateralized loan obligations backed by bonds.
Firm: Broadmoor Consulting LLC
In the news: Marketplace Lenders Are a Systemic Risk
Property Assessed Clean Energy loans have been available in Florida since 2010, but lending, as well as securitization of these loans, has lagged far behind California largely due to a series of lawsuits. A ruling by the Florida Supreme Court in October could change that.Current Issue